DeFi protocol Raydium was the victim of a liquidity pool exploit on Friday. The attack appears to have compromised approximately $2M in funds.
Their initial understanding is that the attacker took over the exchange’s admin account. The Solana-based protocol says that “authority” over automated market maker and farm programs has now been temporarily frozen.
After these events, Raydium has since published a list of affected wallets.
Also ,the suspicious activity began when a Raydium admin account removed significant liquidity from the protocol. In total, there were almost 1,000 transactions on the Solana network that did not replace it with the necessary LP token.
Prism Identified The Attack
In essence, this means the liquidity provider’s funds were stolen. Potentially risking the viability of the protocol. The assailant took a variety of tokens, including US Dollar Coin (USDC), Wrapped SOL (wSOL), and Raydium.
